AUSTIN, TX—COVID has brought about changes that are reshaping the landscape of US real estate. Specifically, a housing shift is occurring in some cities as some people are trading urban living for the suburbs or rural areas, says Jadon Newman, founder and CEO of Noble Capital Group LLC, a private lending and private equity firm.
"Homeownership has traditionally been a way for families to build equity, which is more difficult now in densely populated areas where home prices are high," Newman tells GlobeSt.com. "This is one of the best times in our country's history to build wealth with your home in the suburbs where prices are often more affordable."
As more people work from home in the current health and economic climate, the aspects of city living that are appealing to Millennials and young professionals such as theaters, bars and restaurants are either closed or restricted.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
